Private Company Council Update

The Private Company Council (PCC) recently met to discuss how accounting guidance and items on the Financial Accounting Standards Board’s technical agenda would affect private companies.

Topics covered in the meeting included the definition of a public business entity, private company accounting alternative effective dates, uncertain tax positions, financial instrument classification and the presentation of debt issuance cost.

Members of the PCC also discussed their project on conforming the existing definitions of a nonpublic entity to the definition issued in December 2013.

Learn more in this MHM Messenger: First Quarter Private Company Council Update.

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